SEBI Approves Delhivery IPO

Gurugram-based Delhivery becomes the first top-tier startup this year to have obtained Sebi’s nod to list on domestic bourses. Markets regulator Securities and Exchange Board of India (Sebi) is learnt to have cleared new-age logistics startup Delhivery’s Rs 7,460 crore initial public offering (IPO) proposal. SoftBank and Carlyle-backed Delhivery, in its draft red herring prospectus (DRHP) in November, had said it planned to raise Rs 5,000 crore through fresh issuance of shares while it will have an offer for sale (OFS) component of Rs 2,460 crore where some of its existing investors will sell part of their holdings in the Gurugram-based company. Times Internet was listed as selling shareholders in the DRHP.